Posts Tagged by is the iraqi dinar going to revalue

Economists and the financial experts are of the opinion that Iraq’s economy will flourish again, and the Iraqi dinar will revalue and reach a value of at least three dinars per one U.S. Dollar. They believe that the economy of Iraq is likely to achieve great heights by 2013. Currently, the price of one million Iraqi dinars is less than one […]

Economists and the financial experts are of the opinion that Iraq’s economy will flourish again, and the Iraqi dinar will revalue and reach a value of at least three dinars per one U.S. Dollar. They believe that the economy of Iraq is likely to achieve great heights by 2013.

Currently, the price of one million Iraqi dinars is less than one thousand U.S. Dollars. There was a time when the price of one million Iraqi Dinar was equal to about 3.3 Million U.S. Dollars. Remember Iraq has enormous reserves of crude and in many areas of Iraq have not been geologically explored using the latest and modern seismic techniques. Right now, Iraq has at least one hundred twenty billion barrels of crude oil reserves and the conclusion of this is by previous studies. Nevertheless, the Iraqi government stated publicly that Iraq has huge reserves of oil reserves and has possibly the largest in the world.

The studies show since late 2003, Iraq’s economy has shown signs of recovery and a steady improvement in the conversion of pure resources. It is also necessary to remember that there is a global oil shortage and prices for crude are soaring.

Iraqi Dinar Foreign Money Change and Re-denomination

Various rumors have emerged about the likely changes in forex Iraq, Dinar, regarded as one of those that the Iraqi government is in the process of adjustment of the currency once more from the new Iraqi Dinar. The all new Iraqi Dinar was launched in October 2003 after the regime of Saddam Hussein. The new currency was completely different with new denominations and new notes with revolutionary design. It has been hypothesized that another such change shall be made by the Iraqi government. Another such rumor is the Iraqi dinar 25 000 notes will not be available in the future. This denomination will eventually become obsolete and so these notes will become be powerful to be exchanged in the future.

Rumors of another currency change has been talked about by the Iraqi authorities as was with the previous foreign money change in 2003. And talk of the change in values spread fear among traders simply that they had been convinced by the unsecured nature and unwise to keep physical cash with them. Many investors therefore had no other choice than to invest their money in secure electronic accounts. These rumors paved the way for the benefit of the companies that prefer personal electronic accounts.